The internal control system has been used since the company was in need of the system and until this day it has been working to its fullest potential. Internal control plays an important key in making sure that the accounting information, financial data, meeting the targets, and ensuring that the management policies are getting followed. There are two elements in making an internal control system […]

1. ) In accounting systems, certain controls are needed to ensure that employees are doing their jobs properly and ensure that the system runs properly. These checks are in the best interest of the organization. These controls come in the form of internal controls for the system. The internal controls are the checks that are placed in the system by the company’s own management to […]

The internal control system should be designed to detect and prevent fraud, errors and omissions, and material misstatements, but it can only provide reasonable assurance that the financial statements are free from material misstatements. The best designed internal control system will not prevent management override or collusion. The internal controls system is only as good as the management support behind the system; this includes training […]

This chapter reviews related literature from various sources according to the objectives of the study. The review of available literature therefore attempts to establish whether there is a relationship between internal control systems and financial performance in SACCOs. Therefore the chapter presents the theoretical review and empirical literature on the effects of internal control systems on financial performance of SACCOs in Embu Town. This section […]